Qualcomm Up Another 16% After Agreement With Apple
18 April 2019 - 12:15AM
Dow Jones News
By Michael Dabaie
Qualcomm Inc. (QCOM) shares were up 16% to $81.83 in early
trading Wednesday after rising Tuesday.
Apple Inc. (AAPL) and Qualcomm agreed to dismiss all litigation
between the two companies and forged a new license agreement. The
settlement includes an undisclosed payment from Apple to Qualcomm.
The companies said they had reached a six-year license agreement
and a multiyear deal for Qualcomm to supply Apple with modem
chips.
Raymond James raised its price target on Qualcomm to $85.00 a
share from $65.00 and maintained it at Outperform.
Apple shares were up 0.6% in early trading.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
April 17, 2019 10:00 ET (14:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
QUALCOMM (NASDAQ:QCOM)
Historical Stock Chart
From Mar 2024 to Apr 2024
QUALCOMM (NASDAQ:QCOM)
Historical Stock Chart
From Apr 2023 to Apr 2024